Bitcoin Treasury Race: Dutch Firm Aims for $23M Launch
Dutch Firm Amdax Joins Bitcoin Treasury Push with $23M Launch
Dutch cryptocurrency service provider Amdax has announced the successful raise of over $23 million to establish a Bitcoin treasury company, signaling growing institutional interest in accumulating the digital asset.
The new entity, named AMBTS, is slated for listing on Amsterdam’s Euronext stock exchange. The initial funding round has already secured commitments for the full $23.3 million.
Ambitious Goal: 1% of All Bitcoin
AMBTS has set an ambitious objective: to acquire 210,000 BTC, representing approximately 1% of the total Bitcoin supply that will ever exist.
At current market prices, this would amount to over $23 billion. The company intends to increase its Bitcoin holdings and crypto per share, building value for its shareholders based on prevailing market conditions.
The Growing Trend of Bitcoin Treasuries
This move reflects a growing trend among companies adopting a treasury strategy with Bitcoin. This approach, popularized by Michael Saylor’s MicroStrategy in 2020, has steadily gained traction among both public and private firms.
While some corporations are adding BTC to their balance sheets, others are being specifically created to accumulate the cryptocurrency.
Key Players in Bitcoin Treasury Accumulation
The trend extends beyond crypto-native businesses:
- MicroStrategy (now Strategy): Holds over 632,000 BTC.
- Tesla: Maintains Bitcoin reserves.
- Block, Inc. (formerly Square): Has added Bitcoin to its treasury.
Other firms, such as Japan’s Metaplanet, Dutch firm Amdax (with AMBTS), MercadoLibre, and Norway’s Aker, are also building reserves. Canadian video-sharing platform Rumble has also disclosed digital currency holdings, showcasing the global adoption of this strategy.
AMBTS Positioned for Growth
With $23.3 million in initial funding and a strategy focused on expanding its Bitcoin holdings, AMBTS is positioning itself as a key player in the Bitcoin treasury landscape. This signals the increasing recognition of Bitcoin as a strategic reserve asset, rather than simply another investment vehicle.